Verification of a Financial Instrument Allowing Rules-Based Pre-Acceptance Use of the Financial Instrument

Abstract

A method of verifying authority of a customer to use a financial instrument, includes initiating one or more transactions using a financial instrument identified by a customer. One or more attributes of the initiated one or more transactions are stored. A determination is made as to whether or not a further financial transaction using the identified financial instrument, requested by the customer prior to acceptance of the use of the financial instrument, complies with pre-acceptance transaction rules. The further transaction is initiated only if it is determined to comply with the pre-acceptance transaction rules. One or more proffered attributes are received, typically from the customer. The received proffered attributes are compared to the stored attributes. Use of the financial instrument by the customer is then accepted if the received proffered attributes correspond to the stored attributes.

1 . A method, comprising:
 receiving, by a service provider system associated with a service provider and comprising one or more computers, identification of a financial account and a subscriber to the service provider;   confirming, by the service provider system, a legitimate association between the financial account and the subscriber;   storing, by the service provider system based on the confirming, an indication that the financial account is available for full use; and   prior to storing the indication,
 receiving, by the service provider system, a request for a financial transaction utilizing the financial account, 
 determining, by the service provider system, that the financial account is not available for full use, 
 identifying, by the service provider system responsive to determining that the financial account is not available for full use, at least one pre-confirmation transaction rule, 
 evaluating, by the service provider system, the financial transaction for compliance with the at least one pre-confirmation transaction rule, and 
 generating, by the service provider system, based at least in part on the evaluation, one of a denial of the request or an acceptance of the request. 
   
     
     
         2 . The method of  claim 1 , wherein the request is received on behalf of the subscriber. 
     
     
         3 . The method of  claim 1 , wherein the request is one of i) a payment request or ii) a funds transfer request. 
     
     
         4 . The method of  claim 3 , wherein the request is the payment request, and wherein the payment request is one of i) a bill payment request or ii) a person-to-person payment request. 
     
     
         5 . The method of  claim 1 , wherein the financial transaction i) debits funds from the financial account or ii) credits funds to the financial account. 
     
     
         6 . The method of  claim 1 , wherein each of the at least one pre-confirmation transaction rule is associated with one of a payee or a sponsor of the subscriber. 
     
     
         7 . The method of  claim 1 , wherein one of the at least one pre-confirmation transaction rule is associated with the subscriber. 
     
     
         8 . The method of  claim 1 , wherein one of the at least one pre-confirmation transaction rule is associated with the financial transaction's use of the financial account. 
     
     
         9 . The method of  claim 8 , wherein the financial transaction's use of the financial account is to credit funds to the financial account, and
 wherein the one pre-confirmation transaction rule forbids any crediting to the financial account.   
     
     
         10 . The method of  claim 1 , wherein the at least one pre-confirmation transaction rule is identified based at least in part on the financial transaction. 
     
     
         11 . The method of  claim 1 , wherein the at least one pre-confirmation transaction rule is associated with a transaction amount limit applicable to the request. 
     
     
         12 . The method of  claim 1 , further comprising,
 identifying, by the service provider system, an amount limit applicable to the request;   applying, by the service provider system, the amount limit to the financial transaction;   wherein generating one of a denial of the request or an acceptance of the request is based at least in part on the application of the amount limit.   
     
     
         13 . The method of  claim 1 , further comprising,
 determining, by the service provider system responsive to receiving identification of the financial account, that the financial account is not available for full use.   
     
     
         14 . A method, comprising:
 receiving, by a service provider system associated with a service provider and comprising one or more computers, from a subscriber to a service provider, identification of an account to be used in fulfilling financial transactions;   determining, by the service provider system, that the account is not available for full use;   confirming, by the service provider system, responsive to receiving the determination that the account not available for full use, a legitimate association of the payment account with the subscriber;   prior to confirming that the account is available for full use,
 receiving, by the service provider system, a transaction request on behalf of the subscriber specifying the account, 
 determining, by the service provider system, that the account is not available for use in the transaction request, 
 in response to determining that the account is not available for use in the transaction request, identifying, by the service provider system, one or more pre-confirmation transaction rules applicable to the transaction request, 
 evaluating, by the service provider system, the transaction request for compliance with the one or more pre-confirmation transaction rules, and 
 generating, by the service provider system, an acceptance or denial of the transaction request based at least in part on the evaluation. 
   
     
     
         14 . The method of  claim 11 , wherein the transaction request includes one of a payment request or a funds transfer request. 
     
     
         15 . The method of  claim 11 , further comprising, storing, by the service provider system, an indication that the account is confirmed as available for full use in future financial transactions from the subscriber upon confirming the legitimate association of the account with the subscriber. 
     
     
         16 . The method of  claim 15 , wherein at least one of the one or more pre-confirmation transaction rules specifies at least one respective criterion for approving the transaction request processing prior to storing the indication that the account is confirmed. 
     
     
         17 . A system comprising:
 a storage device, wherein the storage device stores at least one pre-confirmation transaction rule; and   a processor, in communication with the storage device, wherein the processor is configured to execute software instructions to:
 receive identification of a financial account and a subscriber; 
 confirm a legitimate association between the financial account and the subscriber; 
 store, based on the confirming, an indication that the financial account is available for full use; and 
 prior to storing the indication,
 receive a request for a financial transaction utilizing the financial account, 
 determine that the financial account is not available for full use, 
 identify, responsive to determining that the financial account is not available for full use, at least one pre-confirmation transaction rule, 
 evaluate the financial transaction for compliance with the at least one pre-confirmation transaction rule, and 
 generate, based at least in part on the evaluation, one of a denial of the request or an acceptance of the request. 
 
   
     
     
         18 . The system of  claim 17 , further comprising, prior to storing the indication, direct, responsive to the generation of the acceptance of the request, a payment or transfer of funds from the financial account in accordance with the request. 
     
     
         19 . The system of  claim 17 , wherein the request is one of a payment request or a funds transfer request. 
     
     
         20 . The system of  claim 17 , wherein the at least one pre-confirmation transaction rule is associated with a transaction amount limit applicable to the request.